This paper presents the detailed comparative analysis of full particle and hybrid simulations of collisionless magnetic reconnection. The comprehensive hybrid simulation code employed in this study incorporates essential electron kinetics in terms of the evolution of the full electron pressure tensor in addition to the full ion kinetics and electron bulk flow inertia effects. As was demonstrated in our previous publications, the electron nongyrotropic pressure effects play the dominant role in supporting the reconnection electric field in the immediate vicinity of the neutral X point. The simulation parameters are chosen to match those of the Geospace Environmental Modeling (GEM) Reconnection Challenge. It is that these comprehensive hybrid simulations perfectly reproduce the results of full particle simulations in many details. Specifically, the time evolutions of the reconnected magnetic flux and the reconnection electric field, as well as spatial distributions of current density and magnetic field at all stages of the reconnection process, are found to be nearly identical for both simulations. Comparisons of variations of characteristic quantities along the x and z axes centered around the dominating X points also revealed a remarkable agreement. Noticeable differences are found only in electron temperature profiles, i.e., in the diagonal electron pressure tensor components. The deviation in the electron heating pattern in hybrid simulations from that observed in particle simulations, however, does not affect parameters essential for the reconnection process. In particular, the profiles of the off-diagonal components of the electron pressure tensor are found to be very similar for both runs and appear unaffected by heat flux effects. Both simulations also demonstrate that the Ey component of the electric field is nearly constant inside the diffusion region where ions are nonmagnetized. We demonstrate that the simple analytical estimate for the reconnection electric field as a convection electric field at the edge of the diffusion region very well reproduces the reconnection electric field observed in the simulations. ¿ 2001 American Geophysical Union